A UK High Court has ordered the closure of the Salvation Proclaimer Ministries Limited, popularly known as SPAC Nation, run by Nigerian-born pastor, Tobi Adegboyega, in public interest.
SPAC Nation was shut for failing to properly account for more than £1.87 million of outgoings and operating with a lack of transparency.
In a statement on the UK government’s website on Friday, the court presided over by Juge Burton gave the order on June 9, 2022, with the Official Receiver appointed as liquidator of the London-based church.
The court heard that SPAC Nation was incorporated in 2012, as a charity set up to advance Christianity.
During an interview by investigators, one of the company’s directors, Adedapo Olugbenga Adegboyega, also known as Dapo Adegboyega or Pastor Dapo, said that the church group had over 2,000 members and 200 ordained ministers and pastors but failed to provide any supporting information.
“Further enquiries found that SPAC Nation either failed to comply or only partially complied with statutory requirements, including providing data to support claimed donations, and accounting records in support of £1.87 million of expenditure.
“The company’s financial statements in the two years to 31 December 2019 set out £610,000 of rent expenditure. However, the company did not have a single base of its own and would hire venues across London to hold services, at significant expense.
“Salvation Proclaimer Ministries Limited was wound-up after the court concluded the company operated with a lack of transparency, filed suspicious or incorrect accounts, and was insolvent at the time of the hearing.
“It was also recognised that the company provided inconsistent information to the Insolvency Service and Charity Commission, and failed to deliver up adequate accounting records,” the court’s statement read.
Edna Okhiria, Chief Investigator for the Insolvency Service, said, “While SPAC Nation claimed it had noble intentions to support vulnerable and young people, our enquiries uncovered a different side of the charity. There were clear concerns around how the church group managed its affairs and SPAC Nation failed to properly account for income received from donations and other expenditures.
“The court recognised the severity of SPAC Nation’s actions and this sends a strong message that proper records and accounts must be maintained, even if you’re a charity.